(1) An owner or lessee of a motor vehicle who is a resident of this state, upon complying with state motor vehicle laws relating to registration and licensing of motor vehicles and paying the regular fee applicable to the motor vehicle and the fee provided in § 55-4-204, shall be issued an Historic Franklin new specialty earmarked license plate for a motor vehicle authorized by § 55-4-210(c).
(2) The new specialty earmarked license plates shall be of an appropriate design representative of historic Franklin, Williamson County, Tennessee, and shall include the language “Historic Franklin.” The plates shall be designed in consultation with Franklin Tomorrow, Inc.
(3) The funds produced from the sale of Historic Franklin new specialty earmarked license plates shall be allocated to Franklin Tomorrow, Inc., in accordance with § 55-4-301. The funds shall be used exclusively for Franklin Tomorrow's community-wide effort to create and implement a shared vision for the future of Franklin, Tennessee.
(4) Notwithstanding the time limitations of § 55-4-202(g)(1), the Historic Franklin new specialty earmarked license plates, authorized for issuance pursuant to this section, shall have until July 1, 2009, to meet the applicable minimum issuance requirements of § 55-4-202(g)(1).